Us company drivers have dreams at night of being lease purchase operators

A-Bug.....

I want you to "think" this through for a while, I'm not sure of your age, But I can tell you that it wont be easy.

If you have an established family,Home and things "in place"......... You need to Really think about this.

The Success rate is NOT good........As a young man, I had to make a choice, did I want to become an Independent Trucker, Or Go Join the union...

I chose owning my own truck............I succeeded, But It was More Work than I wanted, I aged faster.......And if I could do it all over again, I would Have been a Company driver for a Well established Union company.

Im 48 years old, I own my home, Put my kids through School, And Had the essentials in Life most folks want...But Like I say, I worked Hard, Not Smart.................

I want you to think about this for a while.


cheers

 

I would seriously just stay where you're at. One thing I learned in life is that if you have something good you don't screw it up.

 

That's Correct............And I'm not too sure the "actual" incomes would have been much differen't.

Like I say, If I could turn back the hands of time, I would have chosen differently.

 

Instead of thinking about what the best truck lease is look at the rates they are paying and figure out how much money you will make. You will then see how low the pay is. I just got out of the O/O side because I couldn't make money and keep fixing the truck. My last truck repair was for a new emission box. They said it would be $12,000 to fix truck. They said when I became and O/O 11 year ago freight was cheap. It's also the same rate today and a new truck now is $150,000. My truck still had warranty on the engine part and labor for 8 months. They took the engine apart down to the block for some repairs under warranty. Guess I just got a bad engine. After spending $19,000 once engine was out of warranty and truck needing another $12,000. That was it for me, maybe if you leased a brand new truck will full warranty for parts and labor. My engine had a special extended warranty for parts and labor. That not standard warranty, I would tell you to run Alway from a lease purchase and save yourself all the trouble. I'm making $15,000 more a year as a company drive then I did as O/O. That why they don't give out the real numbers.

 

Just ask any O/O or lease purchase drive how much money they report/pay taxes on to the IRS. They will give you this crazy answer like nothing or a real low numbers and make it sound like they are wheeling and dealing. They will say that number doesn't reflect how much money they really made. You can take tax deduction and make it seem like you not making any money. It sounds great to even say it. I don't pay taxes! You can only do that a couple years 3-4 year of showing no profit the IRS could say it's a hobby. My point is if I was able to pay myself $50,000 + a year I would have happy paid the taxes on that. I could only pay myself $36,000 or lessand then to keep all of that $36,000 I could take some tax breaks. The tax breaks don't last forever. You can get several years into it before you have really pay any taxes. The driver think or make it sound like they are doing something special by not paying taxes. I would rather maked the $50,000 and pay the taxes because that means you making money ! You don't spend money to get a tax right off. You make a profit and pay the taxes. Because once you can't write stuff off you are faced with the fact you not making much money. Yea I did ok the first 6 years but then you don't want to give up and it a long downhill ride till you get that $12,000 repair bill and you just don't have anymore Money. If I wanted to sell my house or something I could keep going but you have to draw the line at some point and say. This s it I'm out of business I'm not risking my home, they can take the truck back and ill drive a company truck.

 

Weekly numbers:

$3640.00 Paid on 2800 miles per week
-$1032.00 Total fuel cost on 2800 miles per week
-$1353.35 Total tractor cost (including payment, balloon, insurance, maintenance escrow ALL Cost
$1254.65 TOTAL WEEKLY TAKEHOME!!
Should work, Should I jump?

 

And then subtract Income Tax and Health insurance right?

 

That's about what I bring home as a company
Steering wheel holder. Health insurance included.
I don't pay for anything and don't fix anything.
And I don't have to cheat on my taxes.